Shiba Inu Surges 20% in 24 Hours, Investors Anticipate Mass Buy Event

Shiba Inu, a popular meme coin, has experienced an exceptional price surge in the last 24 hours, with investors anticipating a 20% growth to reach $0.000020. After a significant decline over the past two months, the market sentiment for Shiba Inu is gradually improving, signaling a potential turnaround for the coin.

The coin has recently broken out of its previous price pattern, with investors already discussing the possibility of a mass buy event. Shiba Inu formed a triangle price pattern in just four hours, which has historically been followed by increased selling. However, this time, the coin has the potential to break its pattern and close above $0.000017, paving the way for a 20% price increase.

Inflow and outflow data indicate that Shiba Inu has already banked $1.65 million, suggesting a strong possibility of an extraordinary price surge. However, it also hints at the potential for a sell-off, as the selling pressure on frail and emerging coins like SHIB could lead to further price drops. Despite this, intraday traders remain optimistic, with open interest in the coin increasing by 12% on Tuesday, indicating the build-up of new positions.